Net Asset Value(s)

ISIS Smaller Companies Trust PLC
24 February 2006


NAV as at close of business on 23/02/06

F & C Asset Management plc Investment Trusts announces the unaudited Net Asset
Value for the following Investment Trust.

(Pence per share).  Investments valued on a bid price basis.

ISIS Smaller Companies Trust plc                                       356.67



Note: NAV is diluted, where appropriate.



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